Industrial Diversification: How Can We Overcome the Barriers?

Tatiana Kulakova and Maria A. Moiseyeva ()
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Maria A. Moiseyeva: Financial Research Institute, Moscow 127006, Russia

Finansovyj žhurnal — Financial Journal, 2011, issue 1, 37-46

Abstract: The article authors dwell on the international practices gained in promoting industrial diversification. One of the key barriers that hamper the process in the emerging economies is the existence of the underdeveloped financial system backed by the vast amount of natural resources and the lack of a chain of production that could integrate the domestic hi-tech companies. As a result, the costs associated with the attraction of borrowed funds become quite high. This is especially true it you take the innovative companies that operate in the SME sector. The article authors identify the ways to form hi-tech sectors on the basis of resource-intensive sectors.

Keywords: industrial diversification; financial system; hi-tech companies; chain of production (search for similar items in EconPapers)
JEL-codes: L16 O32 (search for similar items in EconPapers)
Date: 2011
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